3 Emerging Gems

Romano Sala Tenna

Katana Asset Management

Pioneer Credit Limited (PNC)
The catch cry of long in the tooth fund managers is ‘chase the upgrades’. Few things in investing make us happier.   PNC has announced today an upgrade in their maiden prospectus year – somewhat of a rarity in this environment.  We had already forecast a ~40% increase in profit for FY15 and 30%+ for FY16, so an upgrade on top of this is ‘exceptional’.Icar Asia Limited  (ICQ)
ICQ has confirmed that it has established the #1 car portals in Malaysia, Thailand and Indonesia.  In the most recent quarterly report, cash receipts – not phantom mouse clicks or ‘unique visits’ – have increased 169% on the prior corresponding period. Casrsales.Com holds ~20% which it has purchased at prices up to $1.00 per share.
Global Construction Services Limited  (GCS)
GCS confirmed that net profit was on track to slightly exceed the 2014 FY. The net debt to equity ratio has also declined noticeably from 32% to 15% and the net asset backing is north of 80c per share.   But what has us most ‘excited’ is management’s strong outlook statement which coincides with our own view that the next 2 years will be ‘very strong’.

1 topic

Romano  Sala Tenna
Portfolio Manager
Katana Asset Management

Katana Asset Management was founded in September 2003 as a boutique investment management firm. Katana employs an all opportunity investment mandate being style, sector and market cap agnostic.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment